Schonfeld Strategic Advisors LLC Sells 32,533 Shares of SiTime Co. (NASDAQ:SITM)

Schonfeld Strategic Advisors LLC lessened its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 19.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 136,300 shares of the company's stock after selling 32,533 shares during the period. Schonfeld Strategic Advisors LLC owned 0.58% of SiTime worth $29,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Barclays PLC grew its stake in shares of SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock valued at $6,515,000 after acquiring an additional 16,964 shares during the period. Smartleaf Asset Management LLC lifted its holdings in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after purchasing an additional 206 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of SiTime in the fourth quarter worth approximately $538,000. Proficio Capital Partners LLC purchased a new stake in shares of SiTime in the fourth quarter worth $4,418,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of SiTime during the 3rd quarter valued at $166,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insider Transactions at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the sale, the insider now directly owns 87,940 shares in the company, valued at $15,323,545. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the completion of the sale, the insider now owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,542 shares of company stock valued at $978,713 in the last ninety days. Corporate insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SITM. Barclays dropped their target price on shares of SiTime from $180.00 to $110.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Raymond James reaffirmed an "outperform" rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC lifted their target price on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price target on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $204.00.

SiTime Trading Down 2.9 %

NASDAQ:SITM opened at $148.60 on Tuesday. The business's 50-day moving average is $153.98 and its 200 day moving average is $190.45. SiTime Co. has a 12 month low of $86.73 and a 12 month high of $268.18. The company has a market capitalization of $3.53 billion, a P/E ratio of -36.69 and a beta of 1.98.

SiTime Company Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.

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